Higher minimum wages are creating more jobs (with Michael Reich)
Pitchfork Economics with Nick Hanauer
00:00
The Monopsony Dynamic in the American Economy
Nick Hanauer: Power is effectively the dark matter of economics, it's 85% of what matters. He says you can raise minimum wage substantially and not raise prices by eliminating stock buybacks. That money doesn't go into rich people's pockets because there's some economic principle at play for it to do so, he says.Hanauer: This is just a preference that is government sanctioned in our country that is completely unnecessary.
Transcript
Play full episode
